Journal
MANAGEMENT SCIENCE
Volume 50, Issue 1, Pages 117-131Publisher
INFORMS
DOI: 10.1287/mnsc.1030.0165
Keywords
retail; shelf allocation; metaheuristics
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Efficient shelf-space allocation can provide retailers with a competitive edge. While there has been little study on this subject, there is great interest in improving product allocation in the retail industry. This paper examines a practicable linear allocation model for optimizing shelf-space allocation. It extends the model to address other requirements such as product groupings and nonlinear profit functions. Besides providing a network flow solution, we put forward a strategy that combines a strong local search with a metaheuristic approach to space allocation. This, strategy is flexible and efficient, as it can address both linear and nonlinear problems of realistic size while achieving, near-optimal solutions through easily implemented algorithms in reasonable timescales. It offers, retailers opportunities for more efficient and,profitable shelf management, as well as higher-quality planograms.
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